[Congressional Record Volume 158, Number 49 (Monday, March 26, 2012)]
[House]
[Page H1547]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   COMMENDING PRESIDENT OBAMA'S COMMITMENT TO AMERICA'S AUTO INDUSTRY

  (Mr. FALEOMAVAEGA asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. FALEOMAVAEGA. Mr. Speaker, 3 years ago, the American auto 
industry was on the verge of collapse, and millions of American jobs 
were in jeopardy.
  When President Obama decided to rescue the American auto industry, 
many critics opposed him. But, today, the auto industry is resurging 
thanks to the tough decisions our President made in times of economic 
crisis.
  President Obama stood by the American business community and our auto 
industry. As a result of his firm commitment and demonstration of 
leadership, jobs were saved. Some 1.4 million jobs were going to be 
lost up and down the supply chain of the auto industry if President 
Obama had not taken action to provide for the needs of millions of 
American families at a time of such great economic insecurity in our 
Nation. And now it's paying off. The auto industry has added more than 
200,000 jobs in the last 2\1/2\ years.
  Last but not least, General Motors Company is once again the world's 
top auto manufacturer. In 2011, profits were $7.6 billion, its largest 
ever.
  Mr. Speaker, I commend President Obama for the bold decisions he made 
to rescue our Nation's auto industry, and I thank him for standing with 
our country's workers and for leading our Nation out of the most 
serious economic recession since the Great Depression of 1929.

                          ____________________